SYFXTF

SYFXTF

The Bank Nifty moved in range of 1125 points Viz. between 42780 & 43905. The weekly candle is a bullish and made a higher high and higher lows. Going forward the break-out level of 41300 would become a support for some time at least till we see a daily close below this level. The Index is trading in a new upward sloping channel with a pivot at 43800 and the top at...

SYFXTF

The past week saw a recovery of the losses made in the previous week and attempted the next target zone of 18380. Friday’s initial session saw a sharp fall. However, the index recovered steadily over the remaining session to close above 18300 mark. Next couple of sessions are crucial to see if the Bulls continue to hold the control or allow the market drift...

SYFXTF

Past week saw a narrow range of 81.66-81.94. Gradually the weekly candles are making lower highs. A close below 81.70 favors further lower levels. At least for the moment, it appears that the Pair seems to be in no mood to breach 81.60 on a closing basis. In such scenario we may expect a consolidation between 81.60 and 82.10. There could be choppy moves within...

SYFXTF

The Bank Nifty moved in range of 1157 points Viz. between 42582 & 43739. The weekly candle a bearish still made a higher high and higher lows. Going forward the break-out level of 41300 would become a support for some time at least till we see a daily close below this level. The Index is trading in a new upward sloping channel with a pivot at 43230 and the top at...

SYFXTF

The past week saw a continuation of the bullish momentum which too the Index to the target and major resistance of 18267. However, the Friday’s sharp fall erasing all the gains made through the week is first sign of fracture. Next couple of sessions are crucial to see if the Bulls take the control back or allow the market drift lower. A few observations from the...

SYFXTF

Past week saw a narrow range of 81.60-82.09. The Monthly bearish candle could be one with the narrow range viz. 81.57-82.45. A close below 81.70 favors further lower levels. At least for the moment, it appears that the Pair seems to be in no mood to breach 81.60 on a closing basis. In such scenario we may expect a consolidation between 81.60 and 82.25. There...

SYFXTF

The Bank Nifty moved in shorter range of 1033 points Viz. between 42269 & 43302 which made a bullish candle and made a higher high and higher lows. Going forward the break-out level of 41300 would become a support for some time at least till we see a daily close below this level. The Index is trading in a new upward sloping channel with a pivot at 42970 and the...

SYFXTF

The past week saw a bullish candle on all 5 trading sessions which signifies total control of Bulls. The final 2 sessions of the month saw strong momentum once 1782-=860 zone is breached. There was no looking back. April saw reversal of 4 months of losing streak Month-end Options expiry gave the required push for a decent gain. A few observations from the weekly...

SYFXTF

Past week saw a narrow range of 81.79-82.31. The Monthly candle shows a bearish candle. A close below 81.60 favors further lower levels. It was indeed a short lived gain past 82 after almost 2 months. At least for the moment, it appears that the Pair seems to be in no mood to breach 81.60 on a closing basis. In such scenario we may expect a consolidation between...

SYFXTF

The Bank Nifty moved in shorter range of 800 points Viz. between 41800 & 42600 which made a bearish candle and yet made a higher high and higher lows. This may be treated as profit booking after a sharp spike on breach of long term trend line resistance at 41300. Going forward the break-out level of 41300 would become a support for some time at least till we see a...

SYFXTF

The past week saw a steady decline after hitting a high of 17863, on account of profit booking. Almost 4 sessions the index moved in a narrow range with pivot around 17620. With the index getting back closer to the long term trend line support, the question is whether it would bounce back or give-up. With month end option expiry due it would be an interesting week...

SYFXTF

Past week saw a narrow range of 81.57-82.14. The Monthly candle shows a bearish candle. A close below 81.60 favors further lower levels. After almost 2 months the currency broke the support at 82.05. There is not much change in the earlier observations of the likely scenario which would be a consolidation between 81.60 and 82.15. Break below 81.60 could lead to a...

SYFXTF

The Bank Nifty moved in a range of 1469 Viz. between 40727 & 42196 which made a strongly bullish candle and also made a higher high and higher lows. This strong candle penetrates the downward sloping parallel channel at 41200. As expected a break 41300 triggered a sharp spike well beyond 41800 and hit a high of 42190. Going forward the break-out level of 41300...

SYFXTF

The past week saw a continuation of the control by the bulls. In spite of a truncated week the Index managed to close near the high of the week which indicates that the market looks for some more gains and the sentiments are positive. It remains to be seen if this enthusiasm would continue and the Index attempts 18k. A few observations from the weekly charts...

SYFXTF

Past week saw a narrow range of 81.80-82.45. The Monthly candle still shows a bearish candle. We need to see a daily close below 81.60 for further lower levels. After almost 2 months the currency broke the support at 82.05. There is not much change in the earlier observations of the likely scenario which would be a consolidation between 81.60 and 82.45. Break...

SYFXTF

The Bank Nifty moved in a range of 506 Viz. between 40535 & 41274 which made a bullish candle and also made a higher high and higher lows. However, the small candle suggests a cautious approach of the market as it is near the top of the trend line. The Bank Nifty is continuing to move in the downward sloping channel with Bottom support at 38100 and top resistance...

SYFXTF

The past week saw a return of control back to the bulls. In spite of a truncated week the Index made considerable gain which indicates that the market has digested most of the bad news and the sentiments are turning positive. It remains to be seen if this enthusiasm would keep the market afloat. Weekly charts suggest that The index moved in a range of 326...

SYFXTF

Past week saw a narrow range of 82.04-82.48. The Monthly candle still shows a bearish candle. We need to see a daily close below 81.70 for further lower levels. The currency shows extraordinary resilience and refusing to move below 82. There is not much change in the earlier observations of the likely scenario which would be a consolidation between 81.70 and...